A Message from the Managing Director: December 2024

As we approach the end of another successful year at Cedar Woods, I want to take a moment to reflect on our achievements and share a glimpse into our plans for the future. With a strong portfolio of 40 developments and a pipeline of around 10,000 lots, Cedar Woods is well positioned to deliver strong outcomes for shareholders and customers alike.  

In 2024, we saw mostly favourable conditions for our business—population increases, a tight housing supply across our product types, and low unemployment, all of which continue to drive demand for the new housing sector. 

Our performance reflects the quality of our portfolio, the strength of our strategy and the hard work and commitment of our team. It confirms our approach to delivering high-quality, accessible housing that meets the needs of Australians. Despite ongoing labour shortages in construction, which are gradually easing, we remain well-prepared for steady growth in the years ahead. Our strong presales for FY25 and FY26 reflect the confidence our buyers have in Cedar Woods and our ability to deliver in today’s challenging market. 

This year, we’ve also continued to advance our sustainability initiatives, reducing our corporate carbon footprint, and working with industry groups to address project-level emissions in preparation for climate reporting standards. We’re proud of innovations like the Bloom retirement model in South Australia and the rollout of a community microgrid with rooftop solar in Western Australia. These initiatives don’t just align with our environmental goals—they also benefit our residents directly, lowering their energy costs and enhancing their quality of life. 

Internally, we’re building a workplace culture that celebrates growth and learning, with a strong emphasis on career development and upskilling. Our team’s high engagement scores reflect the positive environment we’ve cultivated, and I am so proud of the commitment each member of our team brings to their work. Safety remains a top priority, and we’ve achieved a strong safety record over the past year, an accomplishment that reinforces our dedication to the well-being of our people. 

Looking ahead, we are optimistic. The market outlook remains promising, particularly outside of Victoria, with low rental vacancy rates, population growth, and continued price growth. Our presales, now totalling $560 million as of September 30, are up 12% from last year, and our balance sheet remained robust with over $150 million in available liquidity. We will continue to explore potential acquisitions that align with our vision and contribute to our long-term success. 

Finally, as we close out this year, I want to extend my heartfelt thanks not only to our dedicated team, but to our trusted suppliers and business partners—your commitment and support have been invaluable to us. I am grateful for the hard work and collaboration that have driven our success. Wishing you all a joyful Christmas and a prosperous New Year. I look forward to another exciting year ahead as we continue to grow and make a positive impact together at Cedar Woods.